How EC works
  • Introduction
  • How the Economic Machine Works
    • How the Economic Machine Works: “A Transactions-Based Approach”
    • How the Market-Based System Works
    • The Template: The Three Big Forces
    • 1) Productivity Growth
    • 2) The Long-Term Debt Cycle
    • 3) The Short-Term Debt Cycle
  • Debt Cycles: Leveragings & Deleveragings
    • An In-Depth Look at Deleveragings
    • The Ugly Deflationary Deleveragings
    • The Beautiful Deleveragings
    • The Ugly Inflationary Deleveraging
    • A Closer Look at Each
      • United States Depression and Reflation, 1930-1937
      • Japan Depression and Reflation, 1929-1936
      • UK Deleveraging, 1947-1969 UK Deleveraging,1947-1969
      • Japan Deleveraging, 1990-Present
      • US Deleveraging, 2008-Present
      • The Recent Spain Deleveraging, 2008-Present
      • Germany’s Weimar Republic: 1918-23
    • US Deleveraging 1930s
      • Preface
      • Conditions in 1929 Leading up to the Crash
      • 1H1930
      • 2H1930
      • 1Q1931
      • 2Q1931
      • 3Q1931
      • 4Q1931
      • 1H1932
      • 2H1932
      • 1933
      • March 1933
      • 1934-1938
    • Weimar Republic Deleveraging 1920s
      • Overview
      • World War I Period 1914 – November 1918
      • Post-War Period November 1918 - December 1921
      • Hyperinflation
      • Second Half of 1922
      • 1923
      • Stabilization: From Late 1923 Onward
  • Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing
    • Part 1: The Formula for Economic Succes
      • A Formula for Future Growth
      • Projections
      • Productivity and Competiveness Measures
      • Our Productivity Gauge
      • Value: What You Pay Versus What You Get
      • A Simple Measure of Cost: Per Capita Income
      • Education
      • Cost of a Productivity Adjusted Educated Worker
      • Working Hard
      • Working Hard Subcomponent: Average Hours Worked
      • Working Hard Subcomponent: Demographics
      • Investing
      • Investing Subcomponents: Aggregate Fixed Investment Rates
      • Investing Subcomponents: Household Savings Rates
      • Culture Components
      • Self-Sufficiency
      • Self-Sufficiency Subcomponent: Work Ethic
      • Self-Sufficiency Subcomponent: Work Ethic - Average Hours Worked
      • Self-Sufficiency Subcomponent: Work Ethic – Labor Force Participation
      • Self-Sufficiency Subcomponent: Work Ethic – Actual Vacation Time
      • Self-Sufficiency Subcomponent: Work Ethic – Retirement Age as Percentage of Life Expectancy
      • Self-Sufficiency Subcomponent: Government Supports
      • Self-Sufficiency Subcomponent: Government Supports – Government Expenditures
      • Self-Sufficiency Subcomponent: Government Supports – Transfers to Households
      • Self-Sufficiency Subcomponent: Labor Market Rigidity
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Unionization
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Ease of Hiring and Firing
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Minimum Wage as Percentage of Average Income
      • Savoring Life Versus Achieving
      • Savoring Life Versus Achieving Subcomponents: Observed Outcomes
      • Savoring Life Versus Achieving Subcomponent: Expressed Values
      • Innovation and Commercialism
      • Innovation and Commercialism Subcomponent: Outputs
      • Innovation and Commercialism Subcomponent: Inputs
      • Bureaucracy
      • Corruption
      • Rule of Law
      • Our Indebtedness Gauge
      • Debt and Debt Service Levels
      • Debt Flow
      • Monetary Policy
      • Summary Observations
    • Part 2: Economic Health Indices by Country, and the Prognoses That They Imply
      • India's Future Growth
      • China's Future Growth
      • Singapore's Future Growth
      • Mexico's Future Growth
      • Thailand's Future Growth
      • Argentina's Future Growth
      • Korea's Future Growth
      • Brazil's Future Growth
      • USA's Future Growth
      • United Kingdom's Future Growth
      • Russia's Future Growth
      • Australia's Future Growth
      • Canada's Future Growth
      • Germany's Future Growth
      • France's Future Growth
      • Hungary's Future Growth
      • Spain's Future Growth
      • Japan's Future Growth
      • Italy's Future Growth
      • Greece's Future Growth
      • Appendix: List of Statistics that Make Up Our Gauges
    • Part 3: The Rises and Declines of Economies Over the Last 500 Years
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  1. Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing
  2. Part 1: The Formula for Economic Succes

Savoring Life Versus Achieving Subcomponents: Observed Outcomes

PreviousSavoring Life Versus AchievingNextSavoring Life Versus Achieving Subcomponent: Expressed Values

Last updated 7 years ago

One straightforward way to see whether a society values achieving over leisure is to observe the outcomes of its choices: literally how much effort they put into work. A society whose people strive hard to achieve in a market- based system will likely have a more vibrant, competitive business environment. These traits will make it more likely to improve its potential than an economy which chooses to value the fruits of life instead. Often we will see countries that have acquired great wealth and become rich begin to make this choice.

看一个社会是否重视实现休闲的一个直截了当的方式是观察其选择的结果:从字面上说,他们投入多少努力。人们努力在市场体系中实现的社会,可能会有更加活跃,竞争激烈的商业环境。这些特质将使其更有可能提高其潜力,而不是选择重视生活成果的经济体。通常我们会看到获得巨大财富和富有的国家开始做出选择。

For the observed piece of the concept of savoring life versus achieving, we use our broad measure of how hard- working a country is. (As discussed, this is the same broad measure we use as part of self-sufficiency, so if it is fresh in your mind you can skip down to the expressed values of this indicator.) As a reminder, this measure includes a broad set of indications of a country’s work ethic, including not just the average hours worked, but also measures like the typical retirement age, how many vacation days people in each country typically take, and male labor force participation on its own. Again, regrettably we must look at our hours worked and labor force measures for just men because different social norms across countries around women in the workforce distort the numbers. Since we expect richer countries to take more leisure than poorer ones, this is one of the measures we expect to have a fairly strong relationship with a country’s income level.

对于观察到的品尝生活与实现的观念,我们用广泛的措施来衡量一个国家的努力程度。(正如所讨论的,这是我们作为自给自足的一部分使用的同样广泛的措施,所以如果在你心目中是新鲜的,你可以跳到这个指标的表达价值)。提醒的是,这个措施包括一个广泛的一个国家的工作道德的迹象,包括不仅平均工作时间,而且还包括典型的退休年龄,每个国家多少假日,以及男性劳动力自己参与的措施。再次,令人遗憾的是,我们必须看看我们的工作时间和劳动力对公正的措施,因为各国妇女在劳动力中的不同社会规范扭曲了数字。由于我们希望更富裕的国家比较穷的国家拥有更多的休闲空间,这是我们期望与一个国家收入水平有很大关系的措施之一。

When we scan across countries, we see emerging countries at the top of the list, including India and Mexico. Overall, emerging Asia comes through as working the hardest, followed by Latin America. Among rich countries, Singapore and then Japan have the hardest workers. The US is fairly hard-working among developed countries, whereas workers in Europe appear to opt for leisure more than anyone else based on these measures. Once we take into account the tendency for wealthier countries to take more leisure time, Japan really stands out as exceptionally hard-working (as do Korea and Singapore). Argentina and Brazil move down a bit. Still, the relative ordering of most countries is fairly stable, since the differences in how hard each country works are fairly extreme. Any way you cut it, Mexico and India remain among the hardest-working countries and workers in Europe some of the most leisure-taking.

当我们扫描国家时,我们看到新兴国家位列榜首,包括印度和墨西哥。总体而言,新兴亚洲经历最艰苦的工作,其次是拉丁美洲。在富国之中,新加坡和日本的劳工人数最多。美国在发达国家中相当努力,而欧洲的工人比这些措施更愿意选择休闲。一旦考虑到富裕国家采取更多闲暇时间的趋势,日本才真正脱颖而出,非常努力(像韩国和新加坡)。阿根廷和巴西下滑了一点。尽管如此,大多数国家的相对秩序是相当稳定的,因为每个国家的工作差异是相当极端的。墨西哥和印度的任何一个方面都是切合实际,在欧洲工作最艰苦的国家和工人中,仍然是最休闲的一天。